US IPOs flourish with Southeast Asian enterprises
GoTo huy động được vốn lớn GoTo is raising great capital before IPO in the US
GoTo Group was established in May 2021 when Gojek and Tokopedia merged. The merger created one of Southeast Asia’s largest technology companies. This is also one of the largest technology ecosystems in Indonesia. This company has successfully raised $1.3 billion in its pre-IPO round before IPO in the US. The first funding round was attended by Abu Dhabi Investment Authority, Avanda Investment Management, Fidelity International, Google, Permodalan Nasional Berhad, Primavera Capital Group, SeaTown Master Fund, Temasek, Tencent, Ward Ferry. Abu Dhabi Investment Authority also led this round.
GoTo is likely to raise around $2 billion in this pre-IPO round. The company expects more investors to join in the coming weeks. GoTo also plans to list in Indonesia by the end of 2021 before doing so in the US. Potential valuation could be as high as $40 billion. GoTo will drive growth, customer interaction, expansion of financial services, payments. The company will also leverage its driver partners and logistics network to improve the service experience in a hyper-local direction.
Leflair’s owner determined growth in Vietnam after IPO
Society Pass is a technology company that operates many Vietnamese e-commerce platforms. The company said its shares had been approved for listing on Nasdaq in the US. Society Pass is headquartered in Ho Chi Minh City. The company has IPOed $26 million for 2.8 million shares of “SOPA” from November 9, 2021. Society Pass is the first Vietnamese company to be listed on a foreign stock market.
Society Pass was established in the US but is registered in Singapore, Vietnam, and India. This company currently operates the SoPa.asia online food ordering and payment system. Society Pass acquired the e-commerce platform Leflair. This platform is aimed at an audience who likes to buy high-priced luxury goods. The company has a total of 1.5 million registered users. The number of registered sales partners also reached the milestone of 3,500. The company also operates a business point-of-sale service HotTab. Until now in Southeast Asia, Society Pass has mainly focused on Vietnam, Philippines and Indonesia markets.
Sources of information include e27 and TechInAsia.